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Saudia Dairy and Foodstuff Co. announces signing a Memorandum of Understanding with Tabuk Agriculture Development Company, Horizon Food Factory Co Ltd.

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Introduction Saudia Dairy and Foodstuff Co. Announces the Execution of a Non Binding Memorandum of Understanding Term Sheet for purchase and expansion of controlling stake in Horizon Food Company Ltd, Al Khobar, from Tabuk Agriculture Development Company, subject to satisfactory completion of financial, technical, business, commercial and legal due diligence.
Memorandum Signing Date 2020-07-26 Corresponding to 1441-12-05
Counterparty Tabuk Agriculture Development Company, Horizon Food

Factory Co Ltd.

Memorandum Subject Non binding memorandum of understanding
Memorandum Duration Three months
Related Parties None
Financial Impact Full financial value of the transaction will be determined and announced after the completion of the due diligence process.
Additional Information None

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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